Question

A sum of money was invested at compound interest added annually. After end of first year the interest was ₹125 and the end of second year it was ₹130. Find the sum invested and rate of percent.​

Answer 1

Given : A sum of money was invested at compound interest added annually.

After end of first year the interest was ` 125 and the end of second year it was ` 130.

To Find :  the sum invested and rate of percent.​

Solution:

Interest of  1st year = 125

Additional interest in 2nd year = 130 - 125 = 5

interest of 5 is basically interest on  125

Hence  5  = 125 * R * 1 /100

=> R = 4 %

P * R  * 1 /100  = 125

=> P * 4 * 1 /100  = 125

=> P  = 12500/4

=> P  = 3125

sum invested   = 3125

Rate of interest = 4  %

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